Pitney Bowes Inc. (NYSE:PBI) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Pitney Bowes Inc. (NYSE:PBI - Free Report) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 398,051 shares of the technology company's stock after purchasing an additional 27,629 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.22% of Pitney Bowes worth $2,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new stake in shares of Pitney Bowes in the 4th quarter valued at $31,000. Smartleaf Asset Management LLC lifted its position in Pitney Bowes by 130.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company's stock valued at $37,000 after purchasing an additional 2,873 shares during the period. Xponance Inc. boosted its holdings in Pitney Bowes by 36.7% in the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company's stock valued at $103,000 after purchasing an additional 3,837 shares during the last quarter. Cibc World Markets Corp purchased a new stake in Pitney Bowes in the fourth quarter valued at $110,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in Pitney Bowes by 11.6% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 18,000 shares of the technology company's stock worth $130,000 after purchasing an additional 1,878 shares during the period. Hedge funds and other institutional investors own 67.88% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PBI. Wall Street Zen cut Pitney Bowes from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 15th. Sidoti raised Pitney Bowes to a "hold" rating in a report on Monday, May 5th.

Pitney Bowes Stock Performance

Shares of PBI traded up $0.01 during trading hours on Monday, hitting $10.54. The stock had a trading volume of 2,003,603 shares, compared to its average volume of 2,137,234. The firm has a 50-day moving average price of $9.04 and a 200 day moving average price of $8.77. Pitney Bowes Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $11.01. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -9.41, a PEG ratio of 0.59 and a beta of 1.61.

Pitney Bowes (NYSE:PBI - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The technology company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Pitney Bowes had a negative net margin of 7.71% and a negative return on equity of 20.95%. The business had revenue of $493.42 million during the quarter, compared to the consensus estimate of $498.99 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. The company's revenue was down 5.3% compared to the same quarter last year. As a group, analysts predict that Pitney Bowes Inc. will post 1.21 EPS for the current fiscal year.

Pitney Bowes Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 19th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.66%. This is an increase from Pitney Bowes's previous quarterly dividend of $0.06. The ex-dividend date was Monday, May 19th. Pitney Bowes's dividend payout ratio (DPR) is presently -30.77%.

About Pitney Bowes

Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium-sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.